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Reliance Capital Q3 Group Profit Surges By 68%

1/29/2013 2:46 AM ET

Reliance Capital Ltd. reported third-quarter consolidated net profit, after minority interest and share of associates, of Rs.101 crore, compared with Rs.60 crore for the year ended December 31, 2011, reflecting a 68 percent growth. On a per share, earnings for the quarter was Rs.4.10, compared with Rs.2.45 in the corresponding period last year, an increase of 67 percent.

Quarterly income from operations touched Rs.1,698 crore, compared with Rs.1,530 crore last year, registering a 11 percent growth, driven by increase in top-line of General Insurance, Commercial Finance and Reliance Capital Asset Management. Other operating income for the quarter was Rs.14 crore, compared with Rs.28 crore in Q3FY12.

Stand-alone Results

On a stand-alone basis, its third -quarter rose nearly four-fold to Rs.61 crore from the Rs.15 crore in the year-ago quarter. Total operating income fell by three percent to Rs.741 crore from Rs.762 crore in the year-ago quarter..

As on December 31, 2012, the net worth of the company stood at Rs.11,819 crore ($2.2 billion), an increase of 50percent.

The total assets of the company, as at the end of December 31, was Rs.39,753 crore ($7.3 billion), an increase of 26 percent.

The company's net debt equity ratio improved to 1.65 as on December 31, 2012 from the 2.27 as on December 31, 2011.

At the BSE, Reliance Capital shares are currently trading at Rs.483.55, up 1.38 percent from the previous close.

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by RTT Staff Writer

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